Hermitage Artist Retreat Inc

Analysis

Hermitage Artist Retreat Inc is a registered charity in United States, based in Englewood, FL. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hermitage Artist Retreat Inc reported income of $1.9m and spending of $1.7m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $535k to $1.9m (+264%), an average of +38% a year. The sharpest change came in the year to June 2020, when income rose by 84%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hermitage Artist Retreat Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Brooklyn Rail Inc ($1.9m), Rosies Theater Kids Inc ($1.9m) and Fort Abraham Lincoln Foundation ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $255k (15% of expenses). Other salaries and wages came to $533k. At year end it held assets of $3.5m against liabilities of $74k, net assets of $3.5m. It reported 11 employees.